Berkeley, CA – The Pinza Group, the leading East Bay Multifamily Sales Brokerage, has announced the sale of a four unit building near UC Berkeley: 2210 Parker Street. Steven Pinza, Esq (the 2014, 2015, & 2016 Top Multifamily Sales Broker in the East Bay according to CoStar), President of The Pinza Group (the 2014, 2015, & 2016 Top Multifamily Sales Brokerage in the East Bay according to CoStar) represented the Buyer and Seller in the transaction. The property sold for $3,195,000 which was roughly $800,000 per unit, far greater than the average price per door in this area.
Sold for the first time in 40+ years, 2210 Parker Street (APN: 55-1828-24-1) is a four unit multifamily building on an 8,910 square foot lot with 6,335 rentable square feet. The property boasts a unique unit mix of one 7bd/2bth of approximately 2,000 sqft, one 1bd/1bth of approximately 850 sqft, one 8bd/2bth of approximately 2,740 sqft, and one 6bd/2bth of approximately 1,450 sqft.
The property was delivered with three units vacant, which will allow the new owner to set market rents upon close, or to renovate and lease units while in escrow. The property has tremendous rental potential with the vacancies and significant rental upside upon turnover of the occupied unit. All units have modern kitchens and bathrooms, updated electrical and plumbing, spacious layouts, and large communal areas.
Walking distance to UC Berkeley, this building is in the very sought after area roughly five blocks to campus. The property’ s location is ideal for investors who seek the high demand (and turnover) common from student tenants. Further, public transportation including BART and bus routes are less than a block away. Within minutes, tenants can walk to nearby restaurants, shopping, dining, and other famous Berkeley attractions.
About The Pinza Group, Inc.
The Pinza Group, Inc was recently named as the 2014 & 2015 & 2016 Top Real Estate Sales Brokerage by CoStar, and is the only privately held investment real estate brokerage to receive the prestigious award in 2014 & 2015 & 2016. The Pinza Group is a full service investment real estate sales firm located in Walnut Creek, California. Founded in 2013, The Pinza Group is a leader in investment real estate sales with over 125 apartment sales in the last 24 months. The Pinza Group is an investment real estate brokerage built on a strong foundation of integrity, dedication, and experience which allows us to provide significant value to existing and future clients. Since The Pinza Group focuses exclusively on investment real estate, all of our efforts and resources are spent researching, brokering, and underwriting commercial properties in the East Bay. The Pinza Group has devoted significant resources to build an effective list of owners, investors, and brokers in the area which has allowed us to create an innovative marketing platform allowing us to deliver incredible value to both owners and investors. For more information on off market investments, an estimate of value, or for free real estate advice please visit: www.pinzagroup.com or Info@pinzagroup.com.